CompnDy registsation number. 05639458 Charity r¢gÈstration number.. 1112691 The Source Young People's Charity (A comp&ny limitsa by 8uar8n*) AmiuaI Re￿ And Financial Ststem¢nts for th¢ Year En(kd 31 Mar¢h 2023 Contents Reference aod Admioistrativ¢ Dethils The Source Young People'i Ch￿lty Strategic Re￿rt The Sourc¢ YouD8 Peopk's Charity Tn￿te£s, RerK>rt 3ty7 Accountants, Repxxt Statement of Finatlcial A¢tivities Bthn¢e Sh¢¢t 10 N￿e$ to the Fineticial Statem 11 to 19 Reference and Admintstrative Detsib Cbalrrn•n Lk Jos JOIll￿On BEM TrUst￿S . BaTry Bird Mr Tim Heys DrJ(6 J(thth BEM Mr Roger Hold¢r MT5 Sus8D Wiggam (reSI￿ed 14 July 2022) Mrs Joy North (aP￿in1¢d 31 January 2023) Mrs Pam Welch (appointed 12 May 2022) Mr St¢v¢ Delv¢5 (appoin*d 31 January 2023) SeDlor M4n*8emtnt I IA*der8hlp Mr PeterJam¢g She4r4 Dirtrtty T¢ath Ch8rlty Reglstratlon Number 1112691 Company Rtytstratbh Number 05639458 Rrylslered Offk¢ Floor Imperial House 2 Grosv¢nor Ro*a Alder5hot GUII IDP A¢¢ountsTrts M T D A¢cowkn¢y Ltd 21 Silver Street ott￿Y Si. Mary EXII IDB Po8¢ 1 Tbe Source Young People's Charity Strategic Report for the Year EDded 31 Mvdrch 2023 The trustees, who are directOTS for the purp0y￿ of compaDy law. pr￿ellt their stixt¢gic report foT the year ended 31 March 2023. in c(Knpli8n¢e with $414C ofth¢ CoDWi¢S A¢t 2(￿. Fkn*nciil revlew The end of the year f]nanciai results include donattLW grants arwj eharitsble activities income amouniing to £78,954 (2022 £87247). of whith £14.774 (2022 £19.573) wis Testricted income. Activitics for generating incom4 which eonsisted of tti¢ome fr(xn Bikestart and counsellitig servi¢e5, amounted to Ul.279 (2022 £41,589). This result￿ in tolal income for the year omountitig to £120333 £128,836). Th¢ iotsl rexourcu ¢xpended wrre kw undeT W control to £128231 (2022 £123.714). The overa]I Surp1￿ of income over expendfftture w&% thuefor¢ -£7.998 (2022 £5,122). With the end of the virus and ater stsbility among the stsff, 2022-23 was a more settled year than its prthswrs And we were able to b¢8ift to consolidat¢ and 8ryiw the or*rations, albeit with a small overnll defi¢it for the year. PIAns for fvture perlodj Alw arddkey 00￿&￿fOr￿threPer1•4￿ One legacy of the pandemic is an iwre&8od number of young people strugglin8 with their wellbeirtg and mental health. We are committed to tytng to allevi•¢e thi$ through earty ini¢r¥ention$. The key ones remain our bespoke l-l counsellin8 and mentoring f(f 14 to 25 year olds. but we intend to broaden our offering to include soft touch group and inforn￿l activities for young people, some of whorn may be less than 14. Thi5 en8a8emont will involve srnall groups ￿81￿£ creative 8rL music, b￿¢ maintenance. physi￿1 activity. and other skills to build onfiden¢¢ and ￿111￿¢¢. We ar¢ 8ratefvl to our Blkestart v0h￿teerS who have raised mole iticome through th¢ir 8Aivities but have also provided m(xe gUPP)rt ftIryow￿ people. AedvliiesplanAed¢o 4chlrtY4lnu The mentsl health and wellbeing of all l¢)¢al youn8 Fwple 1$ a 8rowin8 Concern. tn 2022 the NHS Childrens Commissioner stated that l in 5 childre￿OUng people aged 7 10 16 years and l in 4 young people aged 17 10 19 years had a probable rnentsl health cot)dition. The Children's Society also T¢POrted r#¢ntly th4155/• of 16 to 25 year old's have seen a GP about their mentsl health. We are p￿$lonate about supporttng yOllll8 people gnd will continu¢ to ¢)ur Fwyamm¢s. mccting the needs of those who require it. The emph&si5 on early help and prevention will continue to grow within our strategy. alongside the vitsl work of eouns¢llllw for youn8 peopk tti imm￿late need of support. The ncw creative programme5 will be enhanced &$ tO8¢ther with partntt4 w¢ develop further activities to support 8rea¢cr numbers of youns people. We wtll 8130 r¢duc¢ the ag¢ range for these participants to I l ye&¥ old. We will continue to expand our reach wtthin the vitsl coungellin8 and mentoring prO￿The5, with a reCO￿ltiOn that these 8r¢ still Ilkely to be more suitable for 14 to 25 years old youn8 Ptople. The strategic report appToved by the tr￿tee$ of the CI￿lty ￿ 6 Dee¢mber 2023 and si8nwJ ¢)n its behalf by.. Dr Jos Johnston BBM The Souree Young P¢opk's Charity Truste¢s' Report The ¢rusie£8. who are dift¢torn for the of (￿mp￿Y 18w. pr&wt the aDnual report together with the fiDan¢iaI ststemuts of the charitabl¢ compw for the year ended 31 March 2023. Objectivu and *etlvi¢les Objects and al lo our M¢morandurD and Anicles of A$S￿latIOn our obj¢¢ttves are: The provision of facilities for r¢¢reationaE and oth¢r leisure4ime 0￿10￿ including but not by way of limttation the provts1(￿ of edu¢ation and trailling in lift skills in the int¢rests of social welfare for peTsons who have need by reason of their youdL N>verty OT so¢ial and economic circillnsiances and with the object of improving their Condition of life in AldershoL HaMpth1￿ and ID such otheT parts of the United Kingdom as the Trustr¢s from time to lime think fit. Our mission is to seTve the local communty as an ¢xpression of our Christiln faith. by providing perwna]ised I to l youth ¢ounsellin& mentoring and creative group activities to young people 28ed 14 to 25 years strjggling with their rnen￿ health and wellbein& Throu8h in¢rea8ed resjlien¢e, confideD¢e and self¥esteem. our aim is for them to live healthy, hop)￿1 8nd ￿lfilled lives. We c¢lebr* diversiry and our doors are open to everyone r¢8ardle$3 of b¢lief or background as deM(M￿rated by the wide range of local a8¢ncies who recommend our services 10 yi)un8 people and families. Our viston is to see &ll IIKat y(>un8 people ￿ aT* 3tru8gling with th¢ir mentat F*alth and Wellbei￿ livin8 lfilled thn'vin8 attd hopefiEI lives. Our Values.. W¢l¢omin8. recog4isin8 everyoD¢ as unique and spxi•L rewting their ba¢knund bel j¢fs Cornp88sionate - acknowkdgin8 the needs of others and trivin8 to help Ho￿fUl - seeing the potential in alL and enabltng them to realise 1¢ ColiaborWive. workin8 tO8¢ther, willuw to learn with humility, TWniSiD8 OUT stren8ths and weakn¢sses Prnyerfvl . brm8llw everythiD8 before Go¢ for help and Strength Our Focus.. We support 10¢41 people who are Stru88lln8 with their wellbein8 or mental health. Counsellin8 is a str(m8 focus for our work however. in 2022r23 have Start￿ io create and test new thctiviiies io offer fvrther early help suppor¢ enabling youn8 people to improv¢ their wellbeing ￿rore any health issucs w0￿en. Measurin8 our impact is also a ￿WIng feat￿ for w4. We are in the wocess of developing ￿lIbeIng programme impacw well a5 using new PH(>9 and GA1>7 M￿vrement tools to evalu&te depression and anxiety syinploms respcctiv¢ly. In 2022, w¢ predornin￿ ustyj Rosenb¢rg and NScholson McBride measurement syst¢n￿. to ¢vaiuate 5¢1f<$l¢¢m and re5ilienc¢ with ￿)sitIve oulcomes for a higb per¢ents8¢ of parti¢ipJnts. Evaluations following a programme of sUp￿rt from ow coU￿e￿Il￿￿enttir]ng te4m showed an increase in self-esteem of 820/ts and resiltencc of 77 Pmbllc bertefit Th¢ tru5te&s confinn that thty have c(Mnplied with the requirenknits of section 17 of the Ch8ri¢ies Act 2011 to have re8aTd to the publio benefrt guidan¢¢ publish￿ by th¢ Chwity comm￿10n for England and Wa]es. The Sourne Young Peopk's Charity Trustees, Report CounselliWeMI)ring Throughout 2022Q3 our counselling [￿r￿mm&$ have COntiDued to pYovid¢ vital swn for lo¢ttl young people strJggliJ)g with their mental health. 53 young peopk aged between 14 to 25 accessed our ¢ounselling and meDloring supp)rt programmes. The larg￿1 8g¢ bracket 14 10 17 year olds with 31 young people 8upwrt¢ follow¢d by 13 young people ageAI 18 to 21 and 9 young Fwle a8ed 22 to 25. we￿ aiso sceing an Incr￿S1ng nLunb¢r of young p￿PIe with neUr￿J1¥er5e and similar support needs accessing our serYi¢¢s. Young people refeJTed to our servitts in the past 12 months are rwuesting #upport for a rnn8¢ of chthllcn Including depressio￿ anxiety. la¢k of self-estery disordered eattn& Isolatio￿ 5elf.hann. traum4 abusive relationthip t￿ll¢S and suicidal thoughts. The growing nuttther of younger ieena8ers accessing our support programme, and th¢ ￿derstAnding of the SI￿lficant mental health challenges for many. continues ¢0 drive our Strate￿ in 2023. Wellbetng PrO￿¢S In August 2022 w¢ pilot¢d a new Weubeing Workshco PA)￿a￿e. Using M￿￿C and ¢T¢￿1ve an4 we provided serie5 of workshops which aimed to increase the youn8 people's confidenR and self policies risk assessments. budgets etc are reviewed and de¢isions made. Oryanlfarfon41$truclure Management During the year 2022123 the Director w&$ Mr Peter Shears, who is responsible for implem¢nling the decisions made at Board meetingy, reporting back to the Board and ensuring The Source's work 15 fully r¢sourced and Carried out to the highest slandBrds. The Director receives regular SU￿rvIsion from the Chair. ststement oftrugtee8' responslbllltles The b￿Stee5 (who are also the directors of The Source Young People's Charity for the purposes of company law) are responsible for prcparin8 the Iwstees, report and th¢ finamcial ststernents in accordance wilh applicable law and United Kingdom A￿OUnting Standards {United Kingdom Grner&]ly A￿ePted Accounting Practice), in¢luding FRS 102 "Th¢ Financial R¢porting Standard applicable in the UK and Republic of Ireland" Company law requtres the tmste¢s to PreP￿e finAn¢iai 5tat¢ments for each financial year. Under ￿mpanY law the uvstees must not approve the finan¢ial statements unless they are satisfied that they give a knje and fair view of th¢ state of affairs of the ¢haritsbl¢ company and of th¢ incoming resources and application of resources, includin8 its income and expenditure. of the chatitable ¢ompany for that period In preparin8 thes¢ fm8n¢Éal s¢atem6nts, the trustees are required to: Pa8¢ 6 Tbe Souree YouDg People's Charity Trustees, Report select suitable ac¢ountill8 [￿licieS and apply them eonsi•: observe the methods and tKiDciples in the Chartti¢s SORP. State whether applicable accouoting stsndards Comprising FRS 102 have been followe4 subject 10 any nwlerial departtires disc105¢d and exp]ained in the finawia] statemetkts: and prepare the financial statem¢nts on the goin8 cowern b&sis unkss it is in4Jpropriat¢ to presume that the charitable company will continu¢ in business. The bustees are r¢$W￿1b1¢ for keeping prorrt actOUDting Tr£ords that e4n disclo* with re&wnable &¢¢uracy at any lirne the financiat positic*) of the ¢tr￿lIable company aTJd enable them to ¢n5ure that th¢ financial statcmenls cornpty with the Companies Act 2006. They 8re also rasrx)nsible for safeguarding the assets of the charitsbl¢ cornpany and hence for tsking reasojjabk Steps for the prevention and detection of fraud and other inrgularities. The trustees aTè responsible for th¢ maintsnance and inwity of th¢ CO￿¢ and fmancia] information included on th¢ ¢haritabl¢ comp￿￿3 website. L£￿SlatIOn governiDg the prepa￿tiOn and diSs￿nin￿l0D of financial sta¢em¢nts may diff¢r from legislation in other jurisdI￿10n$. The annual Tqjort was approved by th¢ trjstees of the on 6 D¢¢ember 2023 and si￿ed on its b¢h#lf by.. Dr Jos Johnston BEM Chaimian and Tn￿tee The s1xw￿ Young Peopws Charlty For the Year ended 31" Marth 2023 We report to the trustees on our exarnina￿n of the a￿OUnts of the charitable cornpany for the year ended 31° March 2023. Responslbllltles and basls of rep(Yt As the charlty Twstees. who are also directors for the purposes of the company law, are responsible for the preparation of the accounts in accordan￿ with the requirements ot the Cc#npanles Art 21J)6 ('the 2CQ6 Ace) Having satlsfied oursefves that the accounts of the Company are not required to be audited under Part 16 of the 2CJ)6 Act and are eli8ible for independent examlnatlon. We report In respect ol our eXaMinat￿n of the charitvs accounts carried out under sertion 145 of the Charltles Act ZOII I'the 2011 ACY). In carrylng out our exarninatk>n we have followed the dlrectlons grven by the Char4ty commi￿on under section 145(51{b) of the 2011 Att. Independent examlners statement We have completed our examlnation. We confinn that no matters have come to our attentlon in connection with the examination 8tvin8 us cause to believe that in any material respett: l. Accountln8 recordswere not kept In respect of the Company as required by section 386 ofthe 2CX)6 Att. or 2. The accounts do not accord with these records. or 3. The accounts do not eompty with the requirements of section 396 of the 2LN)6 Act other than any ￿quIrernent that the accounts give a'true and fair vw which is not a matterconsidered as part of an independent examlnatlon; or 4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practi￿ for accountln8 and reportin8 by charities appllcable to charities prepafing their accounts In accordance with the Flnancol Reportin8 Standard appllcable in the UK and Republic of Ireland IFRS 102). We have no concems and have come across M other matters in connectlon wlth the examlnatlon to which attention should be drawn In this report in order to enable a proper understandlng of the accounts to be reached. 14° De￿rnher 2023 MTD Actountanry Ltd 21 Slfver Street Ottery St Mary Devon EXII ID Statem¢n¢ of Financial Activities for the Year Ended 31 Ma￿h 2023 (In£￿ding Ineome and Expenditure AecouDt and StatemeDt of Total Recognised Gains and Losses) Unrwtriet¢d R£s¢rkted rtynds funds Total 2023 Note Incomt 4nd End0￿￿ents froM". DL￿atIonS and le8a¢i Charitsble activities Other trading activities Toial income 64.180 41236 43 14.774 78.954 41236 43 105.459 14.774 120.233 Exp¢ndlture on: Raising funds Charilabl¢ activities (157) 94,709 (157) 128,074) 33.365 Total expenditure 33.365 128.231 Net imcom6(exF¢nditure) Transfers between funds 10.593 18.591 (18,591) 18,591 (7.998) Net rnovement in fim¢l8 RttoD¢lliatlom of I￿nd$ Total fun(ts br(HJgh¢ fonward Total funds carried for¥vwd (7.998) {7.998) 58.143 58,143 15 SO.145 Umre5trkted runds Restrieted runds Totsl 2022 Noté Income and Endowments from.. Donation5 and Iwci¢s Clwitable actlvilies (kh¢r trading activlii¢5 Total in¢ome 67.674 41.536 53 19.573 87,247 41.536 53 109,263 19.573 128,836 Expendlture on: Raising fi]nds Charitable activities (216) 79.57 (216} 123,498 43.921 Total expenditure Nei Income/(expenditin) Transfers b¢tween fimdg 79.793 {123,714 29,470 4,348 (24,348) 24,348 5.122 Net mv¢ment in fund8 Re¢onclllatk)n offvffjds Total funds brought fonvard Total funds carried foTward 5,122 5,122 53,021 S3,￿21 58,143 15 58.143 A]1 of the charitys ¥tivities derive from cOntinull￿ 0puatio￿ dwing the thve two peTiod8. The notrs on pjges I I to 19 form an illte￿ ￿ of these financial statetn￿. Pa8¢ 9 IRegistratioD number 05639458) Ba14nee Sbeet as at 31 M￿ch 2023 2022 Note FiIed *ssets Ta￿8￿ble assets 10 .276 Current *wts SLO 226 1.101 80.208 12 C&sh at bank and in Ftand 3.916 88.595 13 92.511 81,535 Credltors: Amounts f•lllty8 d￿¢ wlthlD one ye•r Net eurrent assets 14 25.358 48.869 56,177 Nel ￿let9 58.143 Funds of the eh*rlty: Unrestrleted income funds Unrestricted fimds 50.145 58,143 Totsl funds 15 50,145 58.143 For the financlal year endin8 31 Mar¢h 21r23 the ch8rity was entitled to exwtion from Judit under s¢¢¢ion 477 of the Companies Act 2006 relating io small companie& DirKtors' responsibilities: The members hAv¢ not requireil th¢ thority to obtain an alldi¢ of its accounts for the yetr in question irt rdance with 8Ktion 476.. and The direcior8 a¢knowled8e thetr responsibilili¢s for eonwl)In8 with the Tequirements of the Act with respect The financial ststements on pgges 9 to 19 were 4yroved by the trust¢es. and authorised ftir issue on 6 De¢ember 2023 and si8ned on their Eeha]f by: Dr Jos Johnstoo BEM Th¢ notss OD py I I ￿ 19 fonD an imegrnl pwt of these financial statements. Page 10 Notes to the Fitiancial Statements for tbe Year Ended 31 March 2023 I Chxrlty The charity is limited by 8uaraMtee, in¢OTporat¢d ID . and conwu&)ty dces oot have shaxe capita]. Each of the I￿te¢S is liable io wnrribu* an amount not exce&ling £1 towards the Lssets of the clwity in the ¢vent of liquidation. The address of its registered offic¢ is: 2nd Flty)r Imperial House 2 Grosvenor Road Ald¢rshot Hampshire GUII IDP 2 Ateountlng poll¢k# Summary of slznlll￿nt ae¢oulltlTrg pollele8 •od kry att0￿￿11￿8 estlm•t£s The princip￿ ae¢ouniing p)lici¢s applied in th¢ preparntion of these finw¢id ststemtht$ are set out below. Thes¢ pollciw have been consJ• applied to all the years presente4 ￿1¢$8 othenwise s¢ateiL St8lemtn¢ ofeompll*ne• The f]nan¢ial ststements have Ix¢n prepartyj in wrdfin￿ with A¢¢ountin8 Reporting by Charities.. Stslemenl of Recommended l>ractice (applicable to charities preparing their accounts in ac¢ordance with the Finoncial Reportin8 Stsndard applicBble tn the UK and Republic of Ireland {FRS 102)) (issued in Oetober 2019) - (Charities SORP ￿Rs 102)). the Financial Reportiti8 Stsndard awlic4ble in th¢ UK and Republi¢ of Ireland (FRS 102) and the Companies Act 2￿. B*$ly of Pre￿ratIOn Th¢ Sourc¢ Young Peoples Charity meets the defmition of a public ben¢fft enttry under FRS 102. Assets and liabilities are initi8lly reCo￿ls¢d ￿ hi*ori¢ftl cos¢ or tr•Dsath TAI￿ unless oth¢nvise sts¢ed in the relevant a¢¢ountin8 poli¢y notes. coneern The ttustees consider that there fjre material wKert8intie5 about the charitys ability to Continue as a 80in8 ncem nor any st￿lfIcant 8rw of uncertainty that aff￿¢ the carryin8 value of &ssets held by the clwity. Exernptlon from Pre￿ring # casb now $tatemeit Th¢ ¢harity opted to earty &lop¢ Bulletin I publish¢d on 2 Fe￿WY 2016 and have therefore not inCl￿d a flow sthtement in these fin8n¢ial statements. Income and endowments All incorne is recognised ODce the chwity h&q entitlement to the inwnK it LS FKobabl¢ that the hKome will be receiv￿ and th¢ amount of the Income re￿]Vable can bc tlleasured reliably. Donallons dndlqael rknnatiO]LS are r¢cogDis¢d wh¢n th¢ charity has beffl nolified fn witing of the atnount and settlemem date. In the event that a donAtion is subjed to conditions that requir¢ a level of perforn)at]ce by the charity b¢fore th¢ charity is entitIed to the fiu]ds. th¢ incorne is defeThed and not rec08tiis￿ until either those ¢ondition5 are ￿1]Y rn￿. or the fulfilment of th(b5e conditions is wholly within the control of the charity and it is probable that th¢se conditions will b¢ fvlfilled in the reporting FETifyJ. Page 11 Notes lo the Financial Statements for the Year Ended 31 March 2023 Grnnts reeehwble Grallts aTe recognised when the charity h&$ enttil¢TheDt to the fun(ts aftd any conditions linked to th¢ grants have been m¢L Where rKrforniaDce condiiions are atrached to the graat arml are yet io be me( the imeome is recognised as a liabilty and iDclwJed on the balance sheet as deferred income to be releawl. DeJerr¢dlncon Defured income r¢presents amou￿ received for futswe wiods gnd is ftle&sed to iticoming resources in the period for whicty it h&8 beerl rettived. Swh incotne is only deferred wb¢D: . The donor specifies the wt or dcrfwion onty be ￿ed in aCcO￿ting periods. or . The donor h88 imposed Conditi￿ ￿1¢h must be met before the cbtirity bas urKonditionat enttdement. ElpeDdit￿ All expenditttre is re¢￿ISed onc¢ there is a le841 or wnstrwve obligation to that expenditUTq it is probable settlement is required and the amount Con be measured reliably. All costs 8Te all￿ated to the applicable expcndintre heading awegate similar costs to that category. Where ￿sts catmot be directly attributed to particular headtngs they have been allocat¢d on a basis consistent with the us¢ of r¢source4 with central sraff Costs allocated on the basis of time SFtt¢ and depreciation chaT8¢S all￿￿ed on the portion of the &qs¢t's we. Other support costs a￿ llllo￿ed bl￿d on the spr¢ad of sraff $￿5. Rathln¥f4nds Th¢s¢ are costs incwTed in attracti￿ vohmlary income. the MaDa8ell￿nf of investm¢nts Ind thos¢ incurr¢d in ¢rnding a¢tivitieg that rnise Charltsble acdv&l¢s Clwitable expendlture compTiSes th￿¢ costs Incur￿ by the ¢barity in the deliv¢ry of its ¥tivitiu and servi¢es for its beneficiaries. It includ&9 both eosts that ¢an b¢ ￿lOcated direAly to Such •ctiviti¢s and th05¢ Costy of an indirect natur¢ r*ceys8ry to support th¢m. Support eosts Support ¢osts in¢lude central fillKtions and have kn a]lo¢ateAJ to activity cost ￿tegOrieS on a basis consisient with the use of reSoU￿¢s, for exampl< allcuttng property costs by are4 or per ¢apity staff costs by the time sr*nt and other ¢osts by th¢ir us•8¢. Governanee e(*ts These include the c￿ts attrib￿1¢ ￿ the thtrity's ¢onwliawe with Consti￿On￿ and ststutory requirements, kncluding wdiL Strate8i¢ maDa8¢ment ond trusttts mxtin8s reimburs•J expenses. TAx*tlo The ¢harity is conside￿1 to pass the t¢sts 8¢t out kn Pwaph I Sche4Me 6 of th¢ Fin8n¢¢ Act 2010 and therefor¢ it meets the d¢finition of th charitsble ¢ompfiny for UK COrporn￿ purpos¢5. Ac¢ordinsly, the ch￿lty is potentially exempt from taxation in respe¢¢ of income or capital gain8 receiv&J within categories covered ty Chapter 3 Part I l of the Colwrntion Tax Act 2010 or Section 256 of the Taxation of Chargeabl¢ Gains Act 1992. to the ex¢¢nt thAt such incon￿ or att applied exclusively to chaTitable Tangib￿ fixed #wts Indiwdual fixed assets costiU8 £50.{￿ or more 8re initially reeordoj at ¢054 l¢ss ally subsequent a¢cumulated d¢precia¢ion and subsequent rnula*d impairment lo&w. Page 12 Notes to the Fill￿ClaI Statements for the Year Ended 31 March 2023 D¢preei¥tion amortb•tiDD Depreciation is provided ott tangible fixed &5s¢ts 80 ￿ to write off the ¢05t or Valuatio￿ le&s any estima* residual valu4 over th¢ir expY¢ted ulefid ecomDi¢ life as follo￿. Asset elas8 Plant & Machinery DeprteA8tion method aDd rate 25% straigbt litie on addit&on8 Stoek Stock is valued at the lower of cost and estim*￿ selling price less costs to complete and selL after due r¢gard for ob501ete and $low movin8 siocks. Cost is determined the first-iN firstry0￿ (FIFO). Trnde debtors Tr#de debtors are amounts due from for D￿h1nd]s¢ sold or seTViC48 p%rfonned in the ordinary course of bLLSin￿s. CAsb and t•sh ¢q￿ly*le￿¢8 Cash and cash 4uivalents comprise casb on Iwid and ¢411 and othes short-temi highly Itquid investments that are readity ￿1vertible kn a kN)wn amouth of and are subject to an insignificant risk of chan8e iti value. Trnde credltors Trade eredi¢ors are obligations to pay for good8 or services that hav¢ been wuired in the ordinary couThe of business from suppli¢Ts. Accounts payable are classified &8 ¢urrent liabililies if the charity does not have an unconditional righ( at the of the reporting perio¢ to defer 5ettl¢m¢nt of the ¢reditor for at ]￿t twelve months after th¢ reporting date. If there is an un¢ondition41 right to defer settlement for at least twelve months after the reportin8 date, th¢y are pwesented &4 non-current liabiliiie& Fund Structure Unrestricted income funds are g¢nera] fund8 that ate avaitsble f(f use at the tnw¢•s discretion in fiJrther•n¢¢ of the objedives of the charity. R¢8tricted income funds ore th